Not surprisingly, most people loathe reviewing their estate plan because it can be both confusing and daunting. Others do not want to think about death and avoid the topic altogether. If you already have put an estate plan together, you are ahead of the curve as many people do not have one. If you do not yet have an estate plan, there is no better time than now to sit down and get one in place. In either scenario, below are five common estate planning mistakes and how to fix them so that you are fully protecting your family.
1. You Have Not Updated Your Plan
Many people consider estate planning a “one and done” proposition. This could not be further from the truth. Life happens. This may include adding new beneficiaries due to the birth of children or grandchildren or removing beneficiaries due to a change in circumstances. Read More